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Rupee appreciates 16 paise to 82.66 against US dollar

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Rupee appreciates 16 paise to 82.66 against US dollar

The rupee also touched a low of 82.71 against the American currency in early trade.

Mumbai:

The rupee appreciated 16 paise to 82.66 against the US dollar in early trade on Monday as the American currency retreated from its higher levels.

Forex traders said weak crude oil prices also gave some support to the local unit.

At the interbank foreign exchange, the domestic unit opened at 82.69 against the dollar, then recovered to trade at 82.66, registering a rise of 16 paise over its previous close.

The rupee also touched a low of 82.71 against the American currency in early trade.

On Friday, the rupee had closed at 82.82 against the American currency.

Meanwhile, the dollar index, which measures the strength of the dollar against a basket of six currencies, rose 0.13 per cent to 103.99.

Global oil benchmark Brent crude futures rose 0.61 per cent to $83.51 a barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 23.44 points or 0.04 per cent lower at 60,979.13. The broader NSE Nifty fell 33.95 points, or 0.19 per cent, to 17,910.25.

Foreign institutional investors (FIIs) were net sellers in the capital market on Friday, selling shares worth Rs 624.61 crore, according to exchange data.

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